Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[jojo69]

I had been thinking about responding to this post for about a week, jbreher; however, I had just been getting caught up with other matters before I was able to actually type out a message.

oh dear lord

for our meager blessings we give thanks

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[Paashaas]

A power plant in New York’s Finger Lakes region has set up its own Bitcoin mining operation, using the electricity it produces to generate about $50,000 worth of the virtual currency every day.

Atlas Holding LLC, the private-equity firm that runs the operation, has installed some 7,000 crypto mining machines at the Greenidge Generation plant in recent months that can mine about 5.5 Bitcoins per day. The 65,000-square-foot facility in Dresden, New York, was built in 1937 as a coal plant and later converted to natural gas.

[Ibian]

If you're not on the verge of death, there's no need to go to a hospital.

Fix a broken bone or whatever...

Most of the time going to the hospital is worse for you than staying home and taking care of yourself.

wait till youre a boomer with a 15 page med list, 14 specialist MDs, a list of conditions and operations, some so cutting edge that they have been published.

without regular labs and MD visits.. well thats life support for some of us.

@Ibian, youre welcome.  well no, thats a lie.

No way I would burden myself, my insurance company, and by proxy, every other person's premiums, or society in general if I had those kind of problems. I'll just have to let life (or death) run it's course when I get that far gone. You know, take it like a man, instead of living on life support.

Boomers have been fucking over everyone else for more than 50 years.  Why stop now.  

I've been gone six months or so from the thread and you're still mr.millenial over here, what a shame.

So do you have any arguments? Have, in fact, boomers NOT been fucking over everyone for more than 50 years? What is your position on this matter?

Ibian, sometimes you are just extremely tiresome.

hashtag notanargument

[JayJuanGee]

I had been thinking about responding to this post for about a week, jbreher; however, I had just been getting caught up with other matters before I was able to actually type out a message.

oh dear lord

for our meager blessings we give thanks

All good things must come to an end...

At least, that is what "we" are told.

 

is anybody so kind and explain or send me the link to the DCA strategy please?

oh man jjg will be here soon

be ready

I am sure glad to be missed... Thanks.. vapourminer...      

I am going to hold back in making any substantive response to Gyrsur's post currently because 1) he framed the question quite weirdly... "the DCA strategy"... hahahahahaha  have you heard of such a thing?, 2) there's 60 pages between my current readings and the current postings, so a) I am quite behind, and b) I have some confidence that either i) some charitable member has attempted to answer Gyrsur's question or ii)  Gyrsur has reasked the question in one or more of the subsequent 60-ish pages.


Edit:

You see (see below).  I told you that some member would respond... that was the one that I mentioned above as option 2)b)i)...... Thank you Xhomer....

is anybody so kind and explain or send me the link to the DCA strategy please?

BTW, we should start something where the WO terms are explained to Newbies like me.

 Dollar cost averaging is simply deciding how much you want to invest and then dividing it into regular contributions over a given period of time.

ie I want to invest $8000 this year into Tesla so I will make biweekly contributions of $307.69.  

 This method is supposed to lower your risk with respect to volatility but imagine doing that with a stock that continues to lose value over time - you're giving away your money.
I think the DCA strategy only works when markets are in an uptrend... but I'm no expert.
 
edit: JJG?

I agree with everything that you said xhomer.... the only two clarifications that I would make is:

1) the $307.69 per every 2 weeks from a hypothetical $8k budget suggests that the hypothetical person is spreading their DCA value injections over a full calendar year (26 times).   I took out my calculator to verify your numbers.

2) DCA is o.k. with UP, DOWN, SIDEWAYS or whatever, it does not matter; however it presumes both that the investor a) has inabilities or unwillingness to predict the market price and b) overall, in the long run, the value of the asset is going to go up, at least that you would be able to cash out at profit at some point.  

If the investor does not have enough confidence in an asset that they believe that it is going to go above their cost per unit at some point after DCAing for a while, then they should not be investing in such asset in that kind of DCAing way.  Using DCA is usually intended as a long-term kind of investment strategy, but employing DCA still would not mean that the investor is locked into investing in the long term, especially if the investor loses confidence in the chosen asset in the future (sometime after beginning DCAing)....

Of course, all of us hear that we should buy high and sell low, which surely is a true concept if we can achieve it, so it is always preferable to be able to cash out of any investment, whether incrementally or in lump sums at a profit, so DCA has the best odds of allowing investors who don't really know about short term price movements to employ a strategy that increases their chances of having some time in the future in which they can cash out at profits, but of course, profits are not guaranteed, even by using solid DCA strategies, and if the investor comes to the conclusion that his/her investment is no longer viable, and is not going to recover from whatever downtrend or ever increasing downward spiraling, then DCA would not stop them from pulling out of their investment completely at some point that s/he perceives to be best for him/her.

Sure, bitcoin has downward spirals and extreme negative price points for extended price periods, so some people might decide to pull out of their investment and even their DCA plan at the worst time and when BTC prices are the best, but that would just mean either that they invested too much, or they did not have sufficient confidence in the long term viability, because they were shaken by the extremes that can happen, and of course, even with bitcoin there continues to be no guarantee that it might not end up in a never ending downward spiral, but if you do not invest more than you can afford to lose, then you would not be scared to either ride BTC prices all the way down to zero or even to continue to follow your DCA plan.  You could end up being wrong and losing anything, or becoming richie (or more richie) because you continue to buy all he way down and when the BTC price recovers while you were able to bring down your cost per BTC during that whole negative price performance period.

Edit 2:

[edited out]

DCA strategy works in long term. DCA is all about avoiding your market entry timing. It doesn't have anything to do with uptrend or downtrend. If you believe that a project will excel over long term, instead of timing the market you could go for DCA. If you use DCA and still end up in loss long term that just means that your investment choice is poor.
Hope I'm not wrong.

I agree with this akhjob assessment, too.

[Raja_MBZ]

... plant in recent months that can mine about 5.5 Bitcoins per day.

I love halvings.

[JayJuanGee]

@jjg its Thursday, if there is one day not to return... then its today!

days of the week remains an arbitrary social construct concept.

You should realize by now that there are many bitcoiners who do not buy too much into arbitrary social constructs, including yours truly.....  

 

[OutOfMemory]

smells pumpy

I agree (when looking at short timeframe charts). So if there's no pump within the next couple of hours, i guess it's sideways again (or bart finishes his haircut soon).

[JayJuanGee]

The fact of the matter is that it was the boomers who voted in socialism in practically the entire world. They deserve to die, and they need to die before we have even the possibility of building something better.

And I'm saying this as someone with old parents. Good parents at that, even. But a few worthwhile people, if they are, do not make up for an entire world run by old people who deliberately make things worse.

If Corona-chan kills most people over 60 and stops unlimited immigration, then it may in the long run turn out to be a good thing. Even better if the world turns on the chinese for releasing it.

Our elders still have a lifetime of valuable experiences to share, I'm not quite ready to give them up.

No they don't. An easy and safe life does not breed wisdom.

Oh gawd... gotta roll my eyes at the immaturity of this savage idea.    

Get a grip,  Ibian.


Edited: 

The fact of the matter is that it was the boomers who voted in socialism in practically the entire world. They deserve to die, and they need to die before we have even the possibility of building something better.

And I'm saying this as someone with old parents. Good parents at that, even. But a few worthwhile people, if they are, do not make up for an entire world run by old people who deliberately make things worse.

If Corona-chan kills most people over 60 and stops unlimited immigration, then it may in the long run turn out to be a good thing. Even better if the world turns on the chinese for releasing it.

Our elders still have a lifetime of valuable experiences to share, I'm not quite ready to give them up.

No they don't. An easy and safe life does not breed wisdom.

I'd wager you have had it 100x easier and safer. I'm not a boomer but I have no desire to see them killed. Everyone of those people you casually and cruelly dismiss has a full lifetime of experience, pain, heartache, joy, and knowledge.

Have some heart and if you can't muster up a basic level of humanity at least think of self preservation. Icygreen has it absolutely correct.

Maybe you should actually talk to some older people sometime instead of living out your bigoted uneducated self-defeating prejudices online. When/if the shit really hits the fan many will be completely unprepared for reality and relying on some aging boomer to show them how to find clean drinking water or repair an engine or a million other skills people learned as a matter of course pre-internet.

You think they had it easy because they spent their lifetimes helping make YOUR life easy. Wishing death on millions because you think they are in your way is juvenile at best and psychopathic at worst.

Whoaza!!!!!  bkbirge already addressed this much more eloquently than me....

[El duderino_]

... plant in recent months that can mine about 5.5 Bitcoins per day.

I love halvings.

Only r0ach a likes will hate those ....

[infofront]

What halving? I thought this was the coronavirus observer. 

[lightfoot]

My argument would be that boomers were the ones who created the internet in it's current form and that was a massive change to the economy. That brought a huge change for cost of living and quality of life through huge lowering of cost throughout the manufacturing and service industries.

You are wrong, and I was there.

Boomers at the time in the mid to late 1980's were totally gushing over a system called "AT&T Connect". This was to be a global network that companies could tie into and consumers could access through the wonder of 64k ISDN access. It would run using X.400 messaging, Novell's NDS directory service, and the beauty of IPX/SPX networking protocols, big enough to cover the Earth.

Think France's MiniTel on steroids. All run and centralized by your loving Phone Company.

While this was going on a bunch of us working with places like FTP software and Wollogong and such had turned the ChaosNet protocols (which is why 10.x.x.x is a private internet address block, it used to be the ChaosNet block) were writing PKTDRV packet drivers to allow IPX equipped PC's to speak TCP/IP and join the wild world of USENet on the Internet with SMTP mail and DNS for host lookups.

That was developed by the teens and early twenties people including me. Jobs and other Boomers latched onto it once it blew past Connect but you can bet they were all behind the IPX and Appletalk bandwagon when the Internet was being built.

So no, Boomers did not build the internet. They wanted to build yet another pile of crap that matched their existing worldview.

[jbreher]

Nutildah puts his dog hat back on... Bullish!

The hat is really well done and detailed, the finer points of which are lost on the avatar-size version. so I'm posting the original, full-size image here in all its glory.

Congrats on the cessation of the whoring out of your reputation for a few miserable shekels.

[jbreher]

Children are barely affected by this. Most have little to no symptoms and not a single death for the 9 and under group. Thats why canceling schools is just panic and hysteria.

Unh, ... yeah, ... I dunno.

In my experience, schoolchildren typically live in close contact with parents and other older peeps. Like, you know, for the 18 hours a day that they are not at the communicable contamination centers.

[jbreher]

not saying you are wrong much, just here and there (medical care is free in China lol), no need for long inquisitions. just your narrative would be more convincing if you didn't let these glaring errors interfere.

Lol that meme is sooo good.
All out of merit +1 V8

Gotcha, fam.

Hell, I chortled.

[Raja_MBZ]

BREAKING: Crypto is now fully legal in South Korea

Articles probably coming soon.

South Korea passes one of the world’s first comprehensive cryptocurrency laws

https://techcrunch.com/2020/03/05/south-korea-passes-one-of-the-worlds-first-comprehensive-cryptocurrency-laws/

[jbreher]

ok i see you're interested in elites, christine lagard and making money. Watch this video. If you can break the code you'lll probably be rich. She is talking about numerology. She is giving something only a minority of elites can decode watch https://youtu.be/QYmViPTndxw

OK, just to humor you, I watched it. Oddly, I don't recall the world's financial system undergoing a Global Currency Reset on 2014 Jul 20.

[infofront]

Am I the only dweeb who is still mining in some fashion or another to gain more coins? I keep trying to day trade this shitcoins against tether and then against Bitcoin to get the most Bitcoin, it's endless.

Nah, I still mine. Currently just ETH and XMR.

[jbreher]

Right, it’s low enough now. Logging onto laptop to buy 0.5BTC.

Thank you for your service.

I’ve bought 4 BTC so far this week. Because incremental ladder trading.

Wow, 4 whole coins this week. You wrote btc - as in bitcoin, with no other qualifiers. If I got it right, there goes a little haiku for you.

That's just, like, you know
five days and a weekend, man
Congratulations!

Yes, BTC.

Just buying back the coins I sold (for more USD) on the way up. Incremental laddered standing orders FTW.

Good breher is getting some sense.... now forget the worthless forks and be a true coiner in its purest form once again!

What? I’ve been buying (and selling) BTC in laddered incremental standing orders since years. Nonstop. Bought yet another 1 BTC earlier today. Because that’s what the strategy calls for. Nonstop.

Incidentally, these buys were not funded via sells of BCH, BSV, nor any other coin. They’re on their own ladders. Because that’s what the strategy calls for.

I had been thinking about responding to this post for about a week, jbreher; however, I had just been getting caught up with other matters before I was able to actually type out a message.

I suppose that in the past week, you may have added more to your position, too, jbreher.  I recall that I had around 16 buy orders fill when  I first saw your post, but then I had a couple more fill within the past couple of days when we dipped down to $8,410.

So, yeah, it has been a pretty productive buying session (not sure if it is over yet), even though this time around it had taken nearly a $600 drop before any of my buy orders even began to trigger, but in the end we got a decent amount of correction and my sell and buy orders hit this one pretty well in a kind of best case scenario way. 

Seems that I am playing with a smaller portion of my holdings than you, though.. not that I have any precise information about your total holdings, beyond some internal conjectures.. that may or may not be accurate.. not that they are specifically relevant to the whole scheme of things in terms of overall strategies.

So, yeah, currently, getting pretty damned close to hitting sell orders in the $9,300 area, even though, you have likely already been hitting sell orders, since you seem to be continuing to play both tighter spreads and tighter increments than me, too.

Welcome back, JJG. While I didn't miss your incessant walls-o-text, I kinda missed you, yourselfies.

Yup, I've been selling some since. After buying some more. Because that's what the strategy calls for.

While I don't know the level of your holdings, I'm guessing you're off by ordersofmagnitudesish regarding my percentage of holdings allocated to trading.

[LFC_Bitcoin]

Am I the only dweeb who is still mining in some fashion or another to gain more coins? I keep trying to day trade this shitcoins against tether and then against Bitcoin to get the most Bitcoin, it's endless.

Never mined myself but whatever works, man. If it’s helping your BTC stash grow then keep going.

Good luck 

[Raja_MBZ]

Seriously, USA doesn't deserve a president this childish: